HInt that current price of overall local property market hard to sustain?

[peterng8]

http://www.todayonline.com/Hotnews/E...,-says-Tharman



Undergraduates concerned about bread-and-butter issues
by Tan Weizhen
Bread-and-butter issues - jobs, the prices of property and car ownership - were also on the minds of the undergraduates at the ministerial forum.

Responding to a question on housing prices, Deputy Prime Minister Tharman Shanmugaratnam (picture) acknowledged that "we are not in a very happy part of the cycle ... because prices have risen faster than income in the last four years".

But Mr Tharman reiterated that, compared to other countries, Singapore has done more to intervene in the market. Apart from cooling measures, the Government is also ramping up the supply of Build-to-Order flats. "It takes a bit of time ... My advice to you is, wait a little bit," Mr Tharman told the undergraduates.

[price]

http://www.todayonline.com/Hotnews/E...,-says-Tharman



Undergraduates concerned about bread-and-butter issues
by Tan Weizhen
Bread-and-butter issues - jobs, the prices of property and car ownership - were also on the minds of the undergraduates at the ministerial forum.

Responding to a question on housing prices, Deputy Prime Minister Tharman Shanmugaratnam (picture) acknowledged that "we are not in a very happy part of the cycle ... because prices have risen faster than income in the last four years".

But Mr Tharman reiterated that, compared to other countries, Singapore has done more to intervene in the market. Apart from cooling measures, the Government is also ramping up the supply of Build-to-Order flats. "It takes a bit of time ... My advice to you is, wait a little bit," Mr Tharman told the undergraduates.

haha he told the undergraduates to wait. Not the public. Wait for BTO ma

[peterng8]

read carefully sentence by sentence...is he really referring to BTO singularly?

[eng81157]

clementi 5rm BTO going for at least 500k and more........bloody pricey.......

[avo7007]

clementi 5rm BTO going for at least 500k and more........bloody pricey.......

As compared to Clementi resale HDB?

[hyenergix]

Extracting a bit from this source:
http://www.todayonline.com/Hotnews/E...,-says-Tharman

Bread-and-butter issues - jobs, the prices of property and car ownership - were also on the minds of the undergraduates at the ministerial forum.

Responding to a question on housing prices, Deputy Prime Minister Tharman Shanmugaratnam (picture) acknowledged that "we are not in a very happy part of the cycle ... because prices have risen faster than income in the last four years".

But Mr Tharman reiterated that, compared to other countries, Singapore has done more to intervene in the market. Apart from cooling measures, the Government is also ramping up the supply of Build-to-Order flats. "It takes a bit of time ... My advice to you is, wait a little bit," Mr Tharman told the undergraduates.



Another student expressed concern on the rising Certificate of Entitlement premiums, arguing that the high cost of car ownership has not alleviated the traffic situation.

Mr Tharman replied that the congestion will be "far worse if we didn't have COE and ERP". The challenge is to improve the public transport system over the long term, he added.

On concerns about competition with foreigners in the job market, Mr Tharman reiterated that "whether we have foreigners here with us or not, we are still competing with them" - many companies, including those in the finance, hospitality and manufacturing sectors, are competing on the global stage, he added.

In response to a question, Mr Tharman also spoke of the need to "treat blue-collar workers with respect". Raising the quality and productivity of such jobs will change people's perception, he added.

"We cannot just be a society of insurance agents, real estate agents and bankers and office workers," Mr Tharman said. AMANDA LEE

Here're my views:

There is no implication for the housing question in red text, the Minister simply means BTOs are now under launch and constructions and will be ready in a few years' time. With regards to the public transport issue in blue text, it means the government will be pumping in money (from tax payers) into the MRT and buses (despite being private companies). With regards to the foreign workers issue text in green, the question was deflected, showing the government will maintain the policy of importing foreign workers.

[avo7007]

Here're my views:

There is no implication for the housing question in red text, the Minister simply means BTOs are now under launch and constructions and will be ready in a few years' time.

You might have missed the part when Tharman said: " Singapore approach is to keep leaning against the wind each time the property market heats up."

[hyenergix]

You might have missed the part when Tharman said: " Singapore approach is to keep leaning against the wind each time the property market heats up."

Typical Minister's talk. He was just pacifying the crowd. 2005-2010 period was a glaring error.

[eng81157]

As compared to Clementi resale HDB?

don't have transactions in the same vicinity but let's make do with what is available on HDB's website,

114 Clementi St 1306 to 10142.00
Model A-Maisonette1984$750,000.00Feb 2012114 Clementi St 1306 to 10142.00
Model A-Maisonette1984$750,000.00Feb 2012Clementi St 1306 to 10142.00
Model A-Maisonette1984$750,000.00Feb 2012Clementi St 1306 to 10142.00
Model A-Maisonette1984$750,000.00Feb 2012Mar 2012 119sqm $607,000 11-15storey Lease 1979

This translates to about $474.22/sqft. New BTO the cheapest unit is $433.07/sqft. Whether this is pricey or not, I leave it up to you

[eng81157]

You might have missed the part when Tharman said: " Singapore approach is to keep leaning against the wind each time the property market heats up."

heh, i need a strong tongkat to keep leaning against the wind.

[hyenergix]

don't have transactions in the same vicinity but let's make do with what is available on HDB's website,

114 Clementi St 1306 to 10142.00
Model A-Maisonette1984$750,000.00Feb 2012114 Clementi St 1306 to 10142.00
Model A-Maisonette1984$750,000.00Feb 2012Clementi St 1306 to 10142.00
Model A-Maisonette1984$750,000.00Feb 2012Clementi St 1306 to 10142.00
Model A-Maisonette1984$750,000.00Feb 2012Mar 2012 119sqm $607,000 11-15storey Lease 1979

This translates to about $474.22/sqft. New BTO the cheapest unit is $433.07/sqft. Whether this is pricey or not, I leave it up to you

Clementi BTOs are cheap. It is difficult to replicate Clementi in other places - proximity to the tertiary institutions, Jurong Gateway/Jurong Island and NUH. The empty plots there are almost exhausted. The potential to increase further is there.

[eng81157]

Clementi BTOs are cheap. It is difficult to replicate Clementi in other places - proximity to the tertiary institutions, Jurong Gateway/Jurong Island and NUH. The empty plots there are almost exhausted. The potential to increase further is there.

pinnacle was definitely cheaper and there ain't lots of empty land too around duxton. rewinding the clock, i don't think starting pays of fresh graduates have increased at the same rate as that of BTOs'.

[yaozong7]

You might have missed the part when Tharman said: " Singapore approach is to keep leaning against the wind each time the property market heats up."

Nobody asked Tharman if 5K units per quarter is a sign that the market is heating up? I believe there will be no additional cooling measures at least for 2Q'12.

Khaw's approach is to use his blog & ST to cool people's expectations (another article in ST on 'freebies' today). But if Sky Habitat becomes a mad rush situation, further cooling measures are likely.

[hyenergix]

pinnacle was definitely cheaper and there ain't lots of empty land too around duxton. rewinding the clock, i don't think starting pays of fresh graduates have increased at the same rate as that of BTOs'.

It doesnt matter. There are many rich parents around.

[eng81157]

It doesnt matter. There are many rich parents around.

i wouldn't want my kid to be saddled with a $1m loan just to purchase a HDB flat by the time she grows up.

[peterng8]

Extracting a bit from this source:
http://www.todayonline.com/Hotnews/E...,-says-Tharman

Bread-and-butter issues - jobs, the prices of property and car ownership - were also on the minds of the undergraduates at the ministerial forum.

Responding to a question on housing prices, Deputy Prime Minister Tharman Shanmugaratnam (picture) acknowledged that "we are not in a very happy part of the cycle ... because prices have risen faster than income in the last four years".

But Mr Tharman reiterated that, compared to other countries, Singapore has done more to intervene in the market. Apart from cooling measures, the Government is also ramping up the supply of Build-to-Order flats. "It takes a bit of time ... My advice to you is, wait a little bit," Mr Tharman told the undergraduates.



Another student expressed concern on the rising Certificate of Entitlement premiums, arguing that the high cost of car ownership has not alleviated the traffic situation.

Mr Tharman replied that the congestion will be "far worse if we didn't have COE and ERP". The challenge is to improve the public transport system over the long term, he added.

On concerns about competition with foreigners in the job market, Mr Tharman reiterated that "whether we have foreigners here with us or not, we are still competing with them" - many companies, including those in the finance, hospitality and manufacturing sectors, are competing on the global stage, he added.

In response to a question, Mr Tharman also spoke of the need to "treat blue-collar workers with respect". Raising the quality and productivity of such jobs will change people's perception, he added.

"We cannot just be a society of insurance agents, real estate agents and bankers and office workers," Mr Tharman said. AMANDA LEE

Here're my views:

There is no implication for the housing question in red text, the Minister simply means BTOs are now under launch and constructions and will be ready in a few years' time. With regards to the public transport issue in blue text, it means the government will be pumping in money (from tax payers) into the MRT and buses (despite being private companies). With regards to the foreign workers issue text in green, the question was deflected, showing the government will maintain the policy of importing foreign workers.

My major interpretation is as follows for the property part only(it is more extended than the view u hold):

1) If it is for BTO only, will not be mentioning CMs, are the cooling measures targetting only public housings? the list goes on...

2) Is the advise given to wait a bit is solely for the undergraduates(who majority need to save for buying property in a few years times) or is it for hinting the public now that are more relevant to current property climate and garmen will act on it?

TIme will tell

[hyenergix]

i wouldn't want my kid to be saddled with a $1m loan just to purchase a HDB flat by the time she grows up.

$1m may not be much in 10-20 years' time.

[eng81157]

$1m may not be much in 10-20 years' time.

you are assuming that pay packages will increase at the same rate as general inflation or property prices. based on track record over the last 10-15 years, i seriously doubt your scenario will hold true

[hyenergix]

My major interpretation is as follows for the property part only(it is more extended than the view u hold):

1) If it is for BTO only, will not be mentioning CMs, are the cooling measures targetting only public housings? the list goes on...

2) Is the advise given to wait a bit is solely for the undergraduates(who majority need to save for buying property in a few years times) or is it for hinting the public now that are more relevant to current property climate and garmen will act on it?

TIme will tell

BTO prices are controlled by HDB, so much for the rhetoric about "unhappy" situation.

[hyenergix]

you are assuming that pay packages will increase at the same rate as general inflation or property prices. based on track record over the last 10-15 years, i seriously doubt your scenario will hold true

I din mention about pay (your pay may be stagnant). It's just $1m may not buy you as much as now in 10-20 years' time.

[eng81157]

My major interpretation is as follows for the property part only(it is more extended than the view u hold):

1) If it is for BTO only, will not be mentioning CMs, are the cooling measures targetting only public housings? the list goes on...

2) Is the advise given to wait a bit is solely for the undergraduates(who majority need to save for buying property in a few years times) or is it for hinting the public now that are more relevant to current property climate and garmen will act on it?

TIme will tell

and no one played up the fact that the last BTO exercise was 6 times over-subscribed, despite all the previous waves of launched BTOs. my colleague had been trying to get a unit since 2009 and despite meeting his MP, it's still NADA, hombres.

[fclim]

"We cannot just be a society of insurance agents, real estate agents and bankers and office workers," Mr Tharman said. AMANDA LEE

I like this. This is a consumption world. You need engineers and builders to make things and maintain them. If you are smart, you should go into engineering where nobody is interested in now. Get a skill and be damned good at it. You will earn more than your counterparts in the future. The foreign talent tap will dry up eventually as regional economies prosper. With Myanmar's political situation improving, those ubiquitous Burmese technicians and engineers will stop coming. Some will go home too.

London, Australia and even China have shown that plumbers earn more than an office or sales worker.

[price]

read carefully sentence by sentence...is he really referring to BTO singularly?

ok lor then u wait?

[Lovelle]

this tharman adviced on waiting is against Ah gong advice on getting married and have baby early which means married, buy house and make babies earlier

[eng81157]

I din mention about pay (your pay may be stagnant). It's just $1m may not buy you as much as now in 10-20 years' time.

$1m can't even get us much nowadays. suburban 3BR condos are already northwards of the mark. 5 years back, owning a $1m condo unit was a bloody big deal. now?

[price]

i wouldn't want my kid to be saddled with a $1m loan just to purchase a HDB flat by the time she grows up.

No one is asking ur kid to pay 1mil for HDBs. if he cant afford, buy smaller ones. EAs and 5 room flats are not built for everyone. Govt dont owe u a right to own a big HDB flat.

[price]

$1m can't even get us much nowadays. suburban 3BR condos are already northwards of the mark. 5 years back, owning a $1m condo unit was a bloody big deal. now?

If you can't afford, just move on. wait, or buy a smaller one. why are u complaining about something u aspire to afford? just go for something within ur means

[hyenergix]

I like this. This is a consumption world. You need engineers and builders to make things and maintain them. If you are smart, you should go into engineering where nobody is interested in now. Get a skill and be damned good at it. You will earn more than your counterparts in the future. The foreign talent tap will dry up eventually as regional economies prosper. With Myanmar's political situation improving, those ubiquitous Burmese technicians and engineers will stop coming. Some will go home too.

London, Australia and even China have shown that plumbers earn more than an office or sales worker.

There are tons of engineers from regional countries who are willing to work harder and at a fraction of your pay. These guys leverage on the strong SGD and go back to relax after 20 years of hard work here. Locals can only LLST.

I recommend working for yourself in any field rather than for a boss, becauses the boss will hire you only at the lowest possible cost so that he can earn the biggest profit.

[eng81157]

If you can't afford, just move on. wait, or buy a smaller one. why are u complaining about something u aspire to afford? just go for something within ur means

hello, we are talking about price increases of BTO in relation to Tharman's speech and you are giving free advice about purchasing a unit within means.

thanks but please keep your wisdom to yourself, as i doubt any seasoned investor needs them

[eng81157]

this tharman adviced on waiting is against Ah gong advice on getting married and have baby early which means married, buy house and make babies earlier

can make babies without a house eh?